Aja made a 20% down payment on a house and was approved for a $185,000 mortgage. Therefore, she should expect her closing costs

Question

2 years ago

5

to be about $3,700 to $12,950.
O A True
O B. False

1 answer:

vladimir1956 [14] · Answer 1 · 2023-05-28T09:57:39+03:00

If Aja was approved for a $185,000 mortgage is true Aja's closing costs are between $3,700 and $12,950.

<h3>What are closing costs?</h3>

This is the amount of money paid for the mortgage settlement or closing.

<h3>How to calculate the closing costs?</h3>

The closing costs are equal to 2-7% of the cost of the loan.

<h3>What are Aja's closing costs?</h3>

185,000 x 0.02 = $3700 (2%)

185,000 x 0.07 = $12,950 (7%)

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